Asana (NYSE:ASAN) Trading Up 5.9% – Here’s What Happened

Asana, Inc. (NYSE:ASAN) rose 5.9% during mid-day trading on Monday . The company traded as high as $7.72 and last traded at $7.7630. Approximately 1,443,016 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 6,082,644 shares. The stock had previously closed at $7.33.

Analyst Ratings Changes

ASAN has been the topic of a number of research reports. KeyCorp dropped their target price on Asana from $15.00 to $13.00 and set an “overweight” rating on the stock in a report on Friday, May 29th. Weiss Ratings reissued a “sell (e+)” rating on shares of Asana in a research note on Friday, May 8th. Citigroup reiterated a “market outperform” rating on shares of Asana in a research note on Friday, May 29th. Morgan Stanley dropped their price target on shares of Asana from $8.00 to $7.00 and set an “underweight” rating on the stock in a research note on Friday, May 29th. Finally, Wall Street Zen lowered shares of Asana from a “strong-buy” rating to a “buy” rating in a research note on Sunday. Three analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $9.27.

Asana Price Performance

The stock’s 50 day moving average price is $7.07 and its two-hundred day moving average price is $7.98. The firm has a market capitalization of $1.72 billion, a price-to-earnings ratio of -10.79 and a beta of 0.97.

Asana (NYSE:ASAN) last announced its earnings results on Thursday, May 28th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.08 by $0.02. Asana had a negative net margin of 20.21% and a negative return on equity of 74.32%. The firm had revenue of $205.09 million for the quarter, compared to the consensus estimate of $203.58 million. During the same quarter last year, the firm posted $0.05 EPS. The business’s quarterly revenue was up 9.5% on a year-over-year basis. Asana has set its FY 2027 guidance at 0.370-0.370 EPS and its Q2 2027 guidance at 0.080-0.090 EPS. As a group, equities research analysts anticipate that Asana, Inc. will post -0.4 EPS for the current fiscal year.

Insiders Place Their Bets

In other Asana news, CEO Daniel Mark Rogers sold 26,975 shares of Asana stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $6.66, for a total value of $179,653.50. Following the transaction, the chief executive officer directly owned 1,905,780 shares of the company’s stock, valued at $12,692,494.80. The trade was a 1.40% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Aziz Megji sold 31,696 shares of the company’s stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $6.66, for a total value of $211,095.36. Following the transaction, the chief financial officer owned 778,628 shares of the company’s stock, valued at approximately $5,185,662.48. This trade represents a 3.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 118,304 shares of company stock worth $792,775 over the last quarter. 61.28% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Asana

Several hedge funds have recently modified their holdings of ASAN. Jupiter Asset Management Ltd. boosted its stake in Asana by 705.6% during the fourth quarter. Jupiter Asset Management Ltd. now owns 1,374,891 shares of the company’s stock worth $18,850,000 after buying an additional 1,204,232 shares in the last quarter. Y Intercept Hong Kong Ltd lifted its holdings in shares of Asana by 250.4% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 532,796 shares of the company’s stock worth $3,410,000 after acquiring an additional 380,741 shares during the period. Counterpoint Mutual Funds LLC acquired a new stake in shares of Asana during the 1st quarter valued at about $591,000. Wesbanco Bank Inc. boosted its position in shares of Asana by 110.0% during the 4th quarter. Wesbanco Bank Inc. now owns 73,500 shares of the company’s stock valued at $1,008,000 after acquiring an additional 38,500 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Asana by 45.3% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 12,607 shares of the company’s stock valued at $163,000 after acquiring an additional 3,931 shares during the period. 26.21% of the stock is owned by institutional investors.

Asana Company Profile

Asana, Inc (NYSE: ASAN) is a leading provider of work management and collaboration software designed to help teams organize, track and manage their work. Founded in 2008 by Dustin Moskovitz and Justin Rosenstein, Asana’s platform enables users to create projects, assign tasks, set deadlines and visualize progress across diverse workflows. The company’s cloud-based solution includes customizable project templates, timeline views, boards and automated rules that streamline routine processes and reduce manual effort.

Built for both small teams and large enterprises, Asana supports integrations with a wide array of third-party applications, including communication tools, file-sharing services and DevOps platforms.